May Hill Capital LLC Buys Shares of 2,107 Cirrus Logic, Inc. (NASDAQ:CRUS)

May Hill Capital LLC purchased a new position in Cirrus Logic, Inc. (NASDAQ:CRUS) in the fourth quarter, Holdings Channel.com reports. The firm purchased 2,107 shares of the semiconductor company’s stock, valued at approximately $210,000.

Several other hedge funds have also recently made changes to their positions in the stock. Kohmann Bosshard Financial Services LLC bought a new stake in Cirrus Logic in the 4th quarter worth approximately $28,000. Westside Investment Management Inc. bought a new stake in shares of Cirrus Logic in the third quarter worth $35,000. Headlands Technologies LLC purchased a new stake in Cirrus Logic during the fourth quarter valued at $39,000. Sound Income Strategies LLC bought a new position in Cirrus Logic in the fourth quarter valued at about $46,000. Finally, R Squared Ltd purchased a new position in Cirrus Logic in the fourth quarter worth about $47,000. 87.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $100.00, for a total transaction of $205,100.00. Following the completion of the transaction, the executive vice president now owns 8,330 shares of the company’s stock, valued at $833,000. This represents a 19.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.02% of the company’s stock.

Analysts Set New Price Targets

CRUS has been the subject of several research reports. Benchmark reaffirmed a “buy” rating and set a $125.00 price target on shares of Cirrus Logic in a research report on Wednesday, March 19th. StockNews.com raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Finally, Barclays boosted their price objective on shares of Cirrus Logic from $105.00 to $115.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cirrus Logic presently has an average rating of “Moderate Buy” and an average target price of $132.86.

Cirrus Logic Stock Performance

Shares of CRUS stock opened at $99.83 on Wednesday. The stock has a fifty day simple moving average of $103.44 and a two-hundred day simple moving average of $107.69. The firm has a market capitalization of $5.31 billion, a PE ratio of 18.12 and a beta of 0.89. Cirrus Logic, Inc. has a 52-week low of $81.30 and a 52-week high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last released its earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.21). Cirrus Logic had a return on equity of 16.60% and a net margin of 16.55%. On average, sell-side analysts forecast that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

About Cirrus Logic

Cirrus Logic, Inc, a fabless semiconductor company, develops low-power high-precision mixed-signal processing solutions in China, the United States, and internationally. The company offers audio products, including amplifiers; codecs components that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single integrated circuit (IC); smart codecs, a codec with integrated digital signal processing; standalone digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software, and algorithms that helps to enhance user experience with features, such as louder, high-fidelity sound, audio playback, voice capture, and hearing augmentation for use in smartphones, tablets, laptops, AR/VR headsets, home theater systems, automotive entertainment systems, and professional audio systems.